Syngas Market in North America | Leading Segments, Trends, Drivers and Challenges
Air Products and Chemicals Inc., Chiyoda Corp., Dakota Gasification Co., Haldor Topsoe AS, Honeywell International Inc. are among some of the key vendors discussed in the research report
The syngas market in North America is expected to grow by $ 416.12 million, accelerating at a CAGR of almost 2.62% during the forecast period. Technavio’s research reports offer a detailed analysis of the market segments, delving deep into the factors that will lead to the growth of each segment. It also offers insights that are likely to have a negative impact on market growth. This comprehensive analysis of the market will enable clients to identify areas of growth and steer clear of the low-performing segments.
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Syngas Market in North America: Market Segments and Growth Forecasts
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- Market is segmented by Geography (US, Canada, and Mexico).
- 66% of the market growth will originate from US during the forecast period.
- The rising demand for renewable sources increases the use of bio-based feedstock to produce syngas. Renewable syngas will alleviate the exploitation of fossil fuels and contribute to carbon reduction in industries and mobility.
- This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Syngas Market in North America size.
Syngas Market in North America: Trends, Drivers, Challenges
The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.
- Rising application of syngas will be a significant factor in driving the growth of the Syngas Market in North America. Syngas has application in many industries such as chemicals, petrochemicals, refining, and fertilizers. It can be used to produce power or can be converted to chemical products through the Fischer Tropsch process. It can be further fermented to produce ethanol, ammonia, methanol, and other chemical building blocks. Furthermore, it is used to produce steel, synthetic natural gas (SNG), and hydrogen. Synthetic natural gas is considered a future fuel and an essential component in the energy transition.
- Increasing investments in sustainable energy will be instrumental in driving market growth during the forecast period.
- Complex quality requirements for syngas is a hurdle that needs to be crossed on the path to success.
Syngas Market in North America: Vendor Analysis
- The market is fragmented.
- Air Products and Chemicals Inc., Chiyoda Corp., Dakota Gasification Co., Haldor Topsoe AS, Honeywell International Inc., LAIR LIQUIDE SA, Linde Plc, McDermott International Inc., Sierra Industrial Group, and SynGas Technology LLC are some of the major market participants.
- The unprecedented outbreak of COVID-19 in 2020 has had a significant impact on market segments had a ripple effect on various stakeholders. Our vendor analysis and insights will provide you with all the information required to make the most of the opportunities and plan business recovery and growth post the pandemic.
Key Areas Covered in our Report:
- Syngas Market in North America Split by Geography
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Competitive scenario
- Vendor landscape
- Landscape disruption
- Air Products and Chemicals Inc.
- Chiyoda Corp.
- Dakota Gasification Co.
- Haldor Topsoe AS
- Honeywell International Inc.
- LAIR LIQUIDE SA
- Linde Plc
- McDermott International Inc.
- Sierra Industrial Group
- SynGas Technology LLC
For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.
Browse through some of other related market research reports for more insights:
- Natural Gas Refueling Stations Market: The Global Natural Gas Refueling Stations Market is projected to grow by 8532.48 units, accelerating at a CAGR of 4.41% till 2025.
- Liquefied Natural Gas (LNG) Market: The liquefied natural gas (LNG) market is expected to grow by $ 14.36 billion, accelerating at a CAGR of 5.73% during the forecast period.
- Floating Liquefied Natural Gas: The Floating Liquefied Natural Gas (FLNG) Market is projected to post an incremental growth of $ 4.68 billion, at a CAGR of 6.12% till 2025.
- Global LNG Infrastructure Market: Global LNG Infrastructure Market is likely to post an incremental growth of $ 4.81 billion, accelerating at a CAGR of 6.19% during the forecast period.
The report provides insights into the following FAQs:
- What is the market CAGR?
The market will accelerate at a CAGR of 2.62%.
- What is the incremental growth of the market?
The market is expected to grow by $ 416.12 mn through 2022-2026.
- What is a key factor driving this market?
Rising application of syngas will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
US, Canada, and Mexico are the key regions featured in this research report.
- Which is the leading geographic region for this market:
66% growth will originate from US
- Who are the leading market vendors?
The leading vendors in this market are Air Products and Chemicals Inc., Chiyoda Corp., Dakota Gasification Co., Haldor Topsoe AS, Honeywell International Inc., LAIR LIQUIDE SA, Linde Plc, McDermott International Inc., Sierra Industrial Group, and SynGas Technology LLC
- What are the market segments covered in this report?
The market is segmented by Geography (US, Canada, and Mexico)